CSSF attacks UBS over role in Madoff fund (Fund News)
UBS was accused of ??serious failure? by the Commission de Surveillance du Secteur Financier (CSSF), Luxembourg??s financial regulator, over its custodianship of a $1.4bn fund that invested with Bernard Madoff.
Hedge fund managers of WG Trading Company, Westridge Capital Management, North Hills Management LLC and Westgate Capital Management LLC have been arrested in the US yesterday and charged with securities fraud.
Allen Stanford, whose whereabouts had been unknown since being charged this week by the SEC in connection with an alleged $8bn fraud, was located in Virginia on Thursday by federal agents.